Dublin CA Homes for Sale | Dublin Market Update March 2017
- Strong demand and plenty of activity
- Inventory rises
- But sales rise faster
- Less than a Month’s supply
The Dublin real estate market continued to build momentum during March, with increased activity and strong demand. Pending sales were up 35% and inventory increased 21%. Prices also continued to rise, with a median sales price of more than $1 million for the third straight month. Homes priced over $1 million continued to increase their share of the market and made up over half of all inventory and sales in March.
41 homes were actively listed at the end of March, up from 34 at the end of February and 36 a year ago. Pending sales increased from 31 during February to 42 in March, which was still below March 2016’s 46 pending sales. Inventory relative to pending sales fell slightly to 1.0 month at the end of March. That compares to 1.1 months at the end of February and 0.8 months at the end of March 2016. On average, homes were listed for an average of 35 days in March, versus 22 in February and 22 a year ago.
The median sales price was over $1 million for the third straight month in March. It increased from $1,028,000 in February to $1,088,000 in March, which was also 4% higher than March 2016’s $1,045,000. Homes sold in March for 101% of their list average list price, up from 99% in February and 100% a year earlier. The price per square foot also increased, from $492 in February to %503 in March.
The tables below provide further details on the current Dublin CA market compared to prior periods, as well as a look at different market segments.
Sellers: It is a great time to be selling a home in Dublin. Inventory is low and demand remains strong, especially for prime properties in excellent condition that are priced right. Proper marketing and staging will be important to getting the most for your home. While multiple offers are still occurring for a few select properties, most other homes have to be priced strategically to get top dollar. More than ever, having a highly competent agent who knows the Dublin market will be critical to your success
Buyers: The current market is fairly balanced, especially compared to the previous few years. Prime properties are still getting a great deal of attention and even multiple offers on occasion. Being prepared to act quickly will be the key to getting the home you are looking for. Having a professional Realtor who understands the Dublin market and your own strengths as a buyer will put you in a strong position to secure the home you really want.